Global Fiber Optic Sensors Market

[dropcap style="e.g. default, circle, square" size="e.g. normal, small"]F[/dropcap]iber optic pressure sensors are sensors made of glass. They offer many benefits such as biocompatibility, miniature size, simple and cost efficient fabrication process, mechanically vigorous, resistant to electromagnet interference, do not conduct electricity, and are capable of operating in high temperature environments. The growth of the market is restricted by factors like maturity of important end-user segment and pricing.

The growth towards vehicle production, fast growing Asian economies, and government regulations are the key drivers which are making the Fiber Optic Sensors market to grow efficiently and successfully.

Fiber Optic Sensors are in a big demand in the automotive, medical and industrial sector. Developments in MEMS technology and its prompt adoption in connected devices have led to the increased adoption of pressure sensors in consumer goods and wearables.The fiber optic sensors strength of a higher tolerance for high temperatures is estimated to drive the demand for these sensors in uses that have risky environmental conditions and where electrical sensors fail to function appropriately, such as the oil and gas, and manufacturing industry.

Increased study of unconventional resources is another key factor expected to increase the growth of the market during the forecast period. The rise in consumption of oil and gas and the drop in the production of conventional oil reserves have pushed vendors and governments to indulge in exploration and drilling activities, therefore, leading to greater demand for fiber optic sensors in this industry.

The Americas accounts for a large market share and is further forecasted to grow at a good rate during the forecast period. The high acceptance rate of fiber optic sensors in the manufacturing sector and the accessibility of huge reserves leading to better exploration and drilling activities are the primary drivers for the market growth in this region.

Key Players

--> Banner Engineering--> Ifm Efector--> OMRON--> Sick

Other leading players in the market include Honeywell Sensing and Control, Micron Optics, and Sensotec.

This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.